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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (56065)	6/14/2006 12:22:19 PM
From: John Vosilla	Read Replies (3) \| Respond to of 306849

Charts of median home prices for your area. housing-watch.com SLC up 60% this year? Manipulated data mining perhaps doesn't include your overbuilt suburbs?

To: bentway who wrote (56065)	6/14/2006 12:26:17 PM
From: GraceZ	Read Replies (2) \| Respond to of 306849

I've always felt that a much more "progressive" tax break would be to make RENT deductible, but remove the mortgage interest deduction Mortgage interest on rental property has always been deductible and that is passed on to renters. Making mortgage interest on private homes deductible simply made them somewhat even with rental property (even with the deduction most people still pay more to own than to rent a similar property). The interest deduction is worth more on a rental because of where it is taken on the tax form, plus you get depreciation which can turn a real profit into a paper loss. The biggest tax advantage that personally owned RE has over rental is in that tax free cap gain when you decide to sell out. Edit: not to mention that the standard deduction is quite high for those who rent reducing the advantage of the mortgage deduction.